NorthStar Realty Finance Announces Third Quarter 2010 Results

NorthStar reported adjusted funds from operations ("AFFO") for the third quarter 2010 of $0.15 per share compared with $0.25 per share for the third quarter 2009. AFFO for the third quarter 2010 was $12.3 million compared with $19.5 million for the third quarter 2009. Net loss to common stockholders for the third quarter 2010 was $(144.1) million, or $(1.87) per share, compared to a net loss of $(66.5) million, or $(0.95) per share for the third quarter 2009. Realized gains totaled $26.8 million for the third quarter 2010, compared with $29.2 million for the third quarter 2009. Third quarter 2010 net loss includes $(169.4) million of unrealized losses relating to non-cash mark-to-market adjustments principally caused by tighter credit spreads, increasing the value of NorthStar's liabilities, compared to $(85.0) million of unrealized losses relating to non-cash mark-to-market adjustments for the third quarter 2009. The non-cash mark-to-market gains and losses are excluded from AFFO.